Omnichannel eyewear retailer Lenskart has received the green light from the to proceed with its , according to sources familiar with the matter. While the company has yet to make a formal announcement, the regulatory approval marks a key milestone in Lenskart’s journey to the public markets.
The IPO will comprise a fresh issue of equity shares worth up to ₹2,150 crore, along with an offer for sale (OFS) of up to 13.2 crore shares by existing stakeholders, as outlined in the draft red herring prospectus (DRHP) filed two months ago.
Promoters including Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi will be participating in the OFS, alongside institutional investors such as SoftBank, Temasek, Kedaara Capital and Alpha Wave Ventures, among others.
The proceeds from the fresh issue are expected to be channelled towards expanding Lenskart’s store network, enhancing its technology infrastructure and boosting brand marketing initiatives. The company plans to open more company-owned and company-operated (COCO) outlets to deepen its footprint in existing and new markets.
Founded in 2010 by Bansal, Chaudhary and Kapahi, Lenskart operates an omnichannel model, blending its digital platform with a substantial offline presence. The company caters to customers across India, the UAE, Singapore, Spain and Japan, and claims to have over 2,723 stores and a customer base of nearly 20 million.
The Gurugram-headquartered start-up has raised more than $1.75 billion to date from marquee global investors including ChrysCapital, Abu Dhabi Investment Authority and Temasek. With SEBI’s approval, Lenskart now joins a growing cohort of Indian start-ups making their way to Dalal Street this year.